SME financing is not a new challenge, it is also not a challenge unique to the Indian financial sector. Today, extensive research is being done on the Indian SME sectors’ creditworthiness and its ability to repay loans, and almost every stakeholder in the banking sector has been trying to crack this market segment. To add…
At CreditEnable, we take our customer success very seriously. Given the male-dominated nature of the business world in India, it is sometimes more difficult for women entrepreneurs to start or run small businesses. In the 2021 financial year, women owned only 20.37% of all MSMEs in the country. This number is up from 13.72% in 2011, but…
When you apply for a business loan, your lender checks your creditworthiness for the loan by carefully analysing your financial documents, such as your bank account statements and balance sheets. These documents help the lender determine whether you can repay the loan you need. Depending on your company size and business constitution, your Audit Report…
Has your lender asked you to submit Form 3CB with your business loan documents, but you don’t know why? In this article, you will learn what Form 3CB is and why your lender needs it when you apply for an SME loan. What is Form 3CB? As a business owner in India, if your annual…
Every earning individual and business needs to pay taxes. As a small business, when you apply for a business loan, your lender needs to ensure that you run your business responsibly and fulfil all your financial obligations to the state. So, lenders will ask you to submit certain business loan documents with your funding application…
Applying to multiple lenders at the same time for a loan will hurt your CIBIL score and bring down your chances of getting a loan today and in the future. As a savvy entrepreneur, when you need business funding, you probably do your research, shop around for the right business loan product and the best…
If your lender is looking for your GSTR-3B, it’s probably because your business is a type that needs to have a GST registration according to the GST Act. In this article, you will learn what a GSTR-3B is and why your lender needs it when you apply for SME funding with a few other business…
A business loan gives you some much-needed financial support for your small business. You can apply for a business loan to expand your business, purchase a piece of machinery, or manage operations expenses. A business loan helps you build and maintain a cash flow and ensures that your business operations run smoothly. Getting a business…
If your business loan lender asked you for proof of your business vintage, they are most likely looking for a document issued by a State or Central government that includes your business’s date of incorporation. One such document is your trade licence. In this article, you will learn what a trade licence is and why…
When you apply for a business loan, you will need to give your lender your bank statements for the last 6-12 months in addition to a few other business loan documents. Lenders use your bank statements to assess your creditworthiness and make their decision to lend to you. In this article, you will learn the…
